China reported an annualized growth rate of 7.3%, slightly stronger than 7.2% expected and the same as 7.3% in Q3. Other numbers from Australia’s No. 1 trade partner were also quite solid. AUD/USD reacted positively, rising nicely from support and stopped only at higher resistance. Apart from the GDP figure, China also reported a growth rate of 15.7% in Fixed Asset Investment and more importantly a gain of 7.9% in industrial output y/y. There were worries about the economic giant’s output, and especially its desire for Australian metals. While the price of copper certainly hurts the Aussie, these numbers from China are supportive. Is the data real or not? China is a huge country and it reports final GDP figures well before the US, the UK and Germany report initial estimations. And is the Chinese government engineering the data to match its political needs? Perhaps, but this doesn’t mean the numbers don’t have an impact on trading. AUD/USD was trading too close to support at 0.8150 when the pair rebounded quite nicely and eventually hit resistance at 0.8215. For more, see the AUD/USD forecast. Here is the chart showing this reaction: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam AUD/USD Daily OutlooksForex News Today: Daily Trading News share Read Next Greek elections: SYRIZA on the cusp of absolute majority Yohay Elam 7 years China reported an annualized growth rate of 7.3%, slightly stronger than 7.2% expected and the same as 7.3% in Q3. Other numbers from Australia's No. 1 trade partner were also quite solid. AUD/USD reacted positively, rising nicely from support and stopped only at higher resistance. Apart from the GDP figure, China also reported a growth rate of 15.7% in Fixed Asset Investment and more importantly a gain of 7.9% in industrial output y/y. There were worries about the economic giant's output, and especially its desire for Australian metals. While the price of copper certainly hurts the Aussie, these numbers from… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
